By Otto Rock
NR link here, short’n’sweet text below:
VANCOUVER, British Columbia, Jan. 10, 2019 (GLOBE NEWSWIRE) — Pretium Resources Inc. (TSX/NYSE:PVG) (“Pretivm” or the “Company”) reports that it has retained independent legal counsel to initiate an investigation of unusual trading activity in its shares.
We had a good old discussion about this on Twitter yesterday evening and I don’t really feel like going over it all again. Here I’ll just say that this is a net positive. At the very least, it shows the willingness of PVG CEO to get to the bottom of the criminal activity in/around his company. It’s also a damage control move, as PVG needs to regain credibility and trust. Finally, even if the third party investigation (which is likely to concentrate on the internal chain of custody of non-public material information) turns up nothing for future public consumption, it will at the very least strike fear into the source(s) of the leak and that alone should stop any further repeats. Nothing certain in this world however, let’s see how things play out.
It’s not even the most serious problem at PVG either. If I were long I’d be looking at the reserve ounce grade, looking at that 11.5g number this week and muttering WTF under my breath. But that, as Hammy Hamster said, is another story.
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